Boxed, the website for shopping for meals and home items in bulk, has became down a $four hundred million acquisition be offering from Kroger, Bloomberg stories.
In advance this yr, phrase in the street used to be that Boxed used to be in talks with Kroger to be obtained for approximately $500 million. On the time, different shops have been rumored to even be making bids.
It kind of feels the ones different events have been Amazon, Goal and Costco. On the other hand, handiest Kroger made a bid for Boxed, in keeping with Bloomberg’s supply.
Boxed, which first introduced in 2013, is largely a Costco competitor. What differentiates Boxed from Costco is the truth that it’s on-line, gives loose supply and does now not require any club rate.
Thus far, Boxed has raised approximately $one hundred sixty five million from Bessemer Project Companions, GGV Capital, Greycroft Companions, First Spherical Capital and others. It’s reportedly worth $470 million.
I’ve reached out to Boxed and Kroger and can replace this tale if I listen again.